Australia’s Ten Most Expensive Legal Tax Breaks
The Commonwealth Treasury’s 2016 Tax Expenditures Statement (published in January 2017) shows Australia’s ten most expensive tax breaks are:
- Main residence exemption from CGT: $61.5 billion.
- Concessional taxation of superannuation earnings $16.9 billion.
- Concessional taxation of superannuation contributions $16.9 billion.
- CGT discount for individuals and trusts $9.6 billion.
- GST exemption for fresh food $6.9 billion.
- GST exemption for education $4.5 billion.
- GST exemption for health services $4 billion.
- GST exemption for financial services $3.9 billion.
- Concessional taxation of termination benefits $2.6 billion.
- Exemption from interest withholding tax on securities $2.3 billion.
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